I did my own service years ago and have helped with some other service installs. It's not an easy job but can be done. Best thing to do is install a new service that will meet all code requirements and POCO requirements next to your old service and get it inspected.

And then use your old panels as sub panels that one cluster of a panel should just be replaced and done right with a new panel. I do like the idea of those meter main combo units. You can get one with feed through lugs and feed a 200 amp sub panel inside.

I just did a service a couple months ago with one and it was easy.

For you all you need is meter main, conduit, weather head, wire, ground wire and rods some other hardware items and it could be easily done for under a thousand.

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With Electricity there is the right way to do it and the dead way. Just because it works does not make it safe.

here is the panel used I bought mine from the local electric supply but this is about the same price I paid. I did an underground service about 50' from the pole. Charged around 1200 and it was only about 700 in materials and a days worth of work.